Time of day Straddle EA needed

2020.03.23 Experts

Specification


1. The idea of the trading system is as follows: Each day market entries are performed when price hits user defined x pips above (for long) or below (for short) against y, price at user defined reference time xx : xx hours (broker server time).

2. Reference time : xx:xx hours (broker server time) : User defined to allow price y to be set , e.g. y = price at 16:00.

3. Trading Signals:

  • Buy signal: Long when price hits buy stop at x pips above y, price at user defined reference time (e.g. price at 16:00). 
  • Sell signal: Short when price hits sell stop at x pips below y, price at user defined reference time (e.g. price at 16:00). 

4. Positions are closed : When SL, TP or breakeven SL hit.

5. Positions are opened at the market price, when buy / sell stop order is hit. The Expert Advisor is to be tested using operations inside the bar (tick by tick data processing). 

6. Additional filters for opening a position:

Reenter trade after stoploss:

  • Yes: Put buy / sell stop again
  • No: If already reached z = user defined maximum no. of trades taken for each day. (e.g. max 2 trades, set 0 for unlimited)

Reenter trade after breakeven stop is hit:

  • Yes: If y is retested / touched, put buy / sell stop again
  • No: If already reached z = user defined maximum no. of trades taken for each day. (e.g. max 2 trades, set 0 for unlimited) OR y is not retested.

Max spread - user defined in pips 

7. Order lot calculation : 3 separate positions opened at user defined lotsize for each position, e.g. Position 1 - a lots, Position 2 - b lots, Position 3 - c lots

8. Stop loss :

  • SL — set at y, price at user defined reference time xx : xx hours
  • Shift to breakeven + 1 pip — when TP 1 is hit

9. Close by Take Profit — User defined TP 1, TP 2, TP 3 (in pips)

10. Management of open positions and pending orders - 

  • Shift remaining 2 positions to breakeven + 1 pip — when TP 1 is hit
  • Shift last position to 50% of TP3 when 70% of TP3 is reached.
  • Remove all pending orders at user specified time yy:yy hrs, e.g. 23:59 hrs (broker server time).

11. Provide source code 









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    Project information

    Budget
    30 - 50 USD
    For the developer
    27 - 45 USD
    Deadlines
    to 5 day(s)